• Friday, March 29, 2024
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CBN updates lists of banks, MFBs, finance companies, BDCs

BDCs

The Central Bank of Nigeria (CBN) on Tuesday updated the lists of Deposit Money Bank (DMBs), and financial holding companies operating in the country.

Also updated on its website were the lists of licensed Microfinance Banks (MFBs), finance companies and Bureau De Change (BDCs).

Consequently, as at June 30,2019, there are 21 commercial banks, four financial holding companies, five merchant banks, and one non-interest bank operating in the country.

Further breakdown of the list of the banks shows that there are eight commercial banking licence with international authorization, 11 commercial banks with national authorization and two banks with regional authorization.

The CBN’s update indicated that there are 908 Microfinance banks, 73 licensed finance companies, and 4798 BDCs operating across the county.